VTB Group (RTS: VTBR) paid 251 billion rubles to consolidate 94.85% of the shares in Bank of Moscow (RTS: MMBM) (BOM), VTB’s deputy CEO Herbert Moos said on Wednesday.
“We paid 251 billion rubles for a 94.85% stake [in Bank of Moscow]. At the same time, the current value of its capital comes to 173 billion rubles. Therefore, we purchased this bank at a multiplier of 1.45,” he said. Continue reading